U.S. retail sales rose at a solid pace in April, a sign that consumers may be rebounding from weak spending earlier this year and driving stronger economic growth. The spending gains were spread across most retail categories, with especially big gains at furniture and clothing stores. The Commerce Department's retail sales data showed that clothing-store sales, fueled by price cuts, jumped 1.4 percent. Gas station sales rose 0.8 percent in April, less than some analysts forecast, largely reflecting price increases. Retail sales are closely watched by economists because they provide an early read on consumer spending, the principal driver of the U.S. economy.

Source: ABC News May 15, 2018 12:34 UTC